Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)

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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues:        
Crude oil, natural gas and natural gas liquids sales $ 116,778 $ 109,240 $ 216,933 $ 189,643
Operating costs and expenses:        
Production expense 52,446 38,604 84,535 66,804
FPSO demobilization and other costs 0 5,647 0 5,647
Exploration expense 0 57 48 65
Depreciation, depletion and amortization 33,132 38,003 58,956 62,420
General and administrative expense 7,591 5,395 14,301 10,619
Credit losses and other 3,341 680 5,153 1,615
Total operating costs and expenses 96,510 88,386 162,993 147,170
Other operating income (expense), net 132 (303) (34) (303)
Operating income 20,400 20,551 53,906 42,170
Other income (expense):        
Derivative instruments gain (loss), net 257 31 (590) 52
Interest expense, net (1,117) (1,703) (2,052) (3,949)
Bargain purchase gain 19,898 0 19,898 0
Other income (expense), net (1,984) (539) (3,784) (1,692)
Total other expense, net 17,054 (2,211) 13,472 (5,589)
Income before income taxes 37,454 18,340 67,378 36,581
Income tax expense 9,303 11,588 31,541 26,359
Net income 28,151 6,752 35,837 10,222
Currency translation adjustments (1,068) 2,006 (3,522) 1,881
Comprehensive income $ 27,083 $ 8,758 $ 32,315 $ 12,103
Basic net income per share:        
Net income per share (in dollars per share) $ 0.27 $ 0.06 $ 0.34 $ 0.1
Basic weighted average shares outstanding (in shares) 103,528 106,965 103,594 107,175
Diluted net income per share:        
Net income per share (in dollars per share) $ 0.27 $ 0.06 $ 0.34 $ 0.09
Diluted weighted average shares outstanding (in shares) 103,676 107,613 103,677 108,050